To bolster the cottage, micro, small, and medium-sized enterprises (CMSMEs) sector in Bangladesh, the SME Foundation has entered into a three-year partnership agreement with Visa. The agreement was formalised at the SME Foundation’s headquarters in Dhaka, with key representatives from both organisations in attendance.
Anwar Hossain Chowdhury, managing director of the SME Foundation, expressed optimism about the collaboration. He emphasised that the partnership will not only focus on payment solutions but will also introduce cutting-edge technologies such as business intelligence, artificial intelligence, and strong cybersecurity measures to keep SMEs competitive in the digital landscape.
Sabbir Ahmed, country manager for Bangladesh, Nepal, and Bhutan at Visa, shared his enthusiasm for supporting local entrepreneurs through this collaboration. “Visa has a long history of facilitating digital transformation, and we are excited to bring our global expertise to the dynamic SME sector in Bangladesh. Our financial and digital skills programs will help entrepreneurs adopt technology more rapidly, access global markets, and innovate their businesses,” he remarked.
The partnership aims to enhance the capabilities of small and medium-sized enterprises through Visa’s comprehensive resources on financial literacy and business acumen. This initiative includes regional training programs on entrepreneurship, sharing global best practices, and equipping SMEs with tools for e-commerce, secure online payment systems, and improved access to financing through Visa’s commercial products.
Moreover, Visa and the SME Foundation plan to collaborate on pilot programs designed to streamline government incentive disbursements, enhance the capacity of resource personnel, and improve coordination efforts. Visa will also utilize tools like the Visa Government Insights Hub to provide data-driven insights for policymakers, offering various services tailored to the needs of SMEs.
The signing ceremony was attended by several key figures, including Shruti Gupta, head of commercial and money movement solutions for India and South Asia at Visa, as well as other officials from both organizations. This partnership marks a vital step toward fostering a sustainable and resilient business ecosystem for SMEs in Bangladesh.
